New Mexico 2025 Regular Session

New Mexico House Bill HB100 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	underscored material = new
2	2	[bracketed material] = delete
3	3	1
4	4	2
5	5	3
6	6	4
7	7	5
8	8	6
9	9	7
10	10	8
11	11	9
12	12	10
13	13	11
14	14	12
15	15	13
16	16	14
17	17	15
18	18	16
19	19	17
20	20	18
21	21	19
22	22	20
23	23	21
24	24	22
25	25	23
26	26	24
27	27	25
28	28	HOUSE BILL 100
29	29	57
30	30	TH LEGISLATURE
31	31	-
32	32
33	33	STATE
34	34
35	35	OF
36	36
37	37	NEW
38	38
39	39	MEXICO
40	40
41	41	-
42	42	FIRST SESSION
43	43	,
44	44
45	45	2025
46	46	INTRODUCED BY
47	47	Janelle Anyanonu
48	48	AN ACT
49	49	RELATING TO PROPERTY MANAGEMENT; EXEMPTING SERVICES RENDERED BY
50	50	ATTORNEYS AT LAW AND CONTRACTORS IN THE PERFORMANCE OF PROPERTY
51	51	MANAGEMENT FROM THE PROVISIONS OF CHAPTER 61, ARTICLE 29 NMSA
52	52	1978.
53	53	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
54	54	SECTION 1. Section 61-29-2 NMSA 1978 (being Laws 1999,
55	55	Chapter 127, Section 1, as amended) is amended to read:
56	56	"61-29-2. DEFINITIONS AND EXCEPTIONS.--
57	57	A. As used in Chapter 61, Article 29 NMSA 1978:
58	58	(1) "agency relationship" means the fiduciary
59	59	relationship created solely by an express written agency
60	60	agreement between a person and a brokerage, authorizing the
61	61	brokerage to act as an agent for the person according to the
62	62	scope of authority granted in that express written agreement
63	63	.229296.1 underscored material = new
64	64	[bracketed material] = delete
65	65	1
66	66	2
67	67	3
68	68	4
69	69	5
70	70	6
71	71	7
72	72	8
73	73	9
74	74	10
75	75	11
76	76	12
77	77	13
78	78	14
79	79	15
80	80	16
81	81	17
82	82	18
83	83	19
84	84	20
85	85	21
86	86	22
87	87	23
88	88	24
89	89	25
90	90	for real estate services subject to the jurisdiction of the
91	91	commission;
92	92	(2) "agent" means the brokerage authorized,
93	93	solely by means of an express written agreement, to act as a
94	94	fiduciary for a person and to provide real estate services that
95	95	are subject to the jurisdiction of the commission; in the case
96	96	of an associate broker, "agent" means the person who has been
97	97	authorized to act by that associate broker's qualifying broker;
98	98	(3) "associate broker" means a person who, for
99	99	compensation or other valuable consideration, is associated
100	100	with or engaged under contract by a qualifying broker to carry
101	101	on the qualifying broker's business as a whole or partial
102	102	vocation, and:
103	103	(a) lists, sells or offers to sell real
104	104	estate; buys or offers to buy real estate; or negotiates the
105	105	purchase, sale or exchange of real estate or options on real
106	106	estate;
107	107	(b) is engaged in managing property for
108	108	others;
109	109	(c) leases, rents or auctions or offers
110	110	to lease, rent or auction real estate;
111	111	(d) advertises or makes any
112	112	representation as being engaged in the business of buying,
113	113	selling, exchanging, renting, leasing, auctioning or dealing
114	114	with options on real estate for others as a whole or partial
115	115	.229296.1
116	116	- 2 - underscored material = new
117	117	[bracketed material] = delete
118	118	1
119	119	2
120	120	3
121	121	4
122	122	5
123	123	6
124	124	7
125	125	8
126	126	9
127	127	10
128	128	11
129	129	12
130	130	13
131	131	14
132	132	15
133	133	16
134	134	17
135	135	18
136	136	19
137	137	20
138	138	21
139	139	22
140	140	23
141	141	24
142	142	25
143	143	vocation; or
144	144	(e) engages in the business of charging
145	145	an advance fee or contracting for collection of a fee in
146	146	connection with a contract under which the qualifying broker
147	147	undertakes primarily to promote the sale of real estate through
148	148	its listing in a publication issued primarily for that purpose
149	149	or for the purpose of referral of information concerning real
150	150	estate to other qualifying brokers or associate brokers;
151	151	(4) "auctioneer" means a person who auctions
152	152	or offers to auction real property;
153	153	(5) "brokerage" means a licensed qualifying
154	154	broker and the licensed real estate business represented by the
155	155	qualifying broker and its affiliated licensees;
156	156	(6) "brokerage relationship" means the legal
157	157	or contractual relationship between a person and a brokerage in
158	158	a real estate transaction subject to the jurisdiction of the
159	159	commission;
160	160	(7) "client" means a person who has entered
161	161	into an express written agreement with a brokerage for real
162	162	estate services subject to the jurisdiction of the commission;
163	163	(8) "commercial real estate" means real estate
164	164	that is zoned:
165	165	(a) for business or commercial use by a
166	166	city or county; or
167	167	(b) by a city or county to allow five or
168	168	.229296.1
169	169	- 3 - underscored material = new
170	170	[bracketed material] = delete
171	171	1
172	172	2
173	173	3
174	174	4
175	175	5
176	176	6
177	177	7
178	178	8
179	179	9
180	180	10
181	181	11
182	182	12
183	183	13
184	184	14
185	185	15
186	186	16
187	187	17
188	188	18
189	189	19
190	190	20
191	191	21
192	192	22
193	193	23
194	194	24
195	195	25
196	196	more multifamily units; provided that all units are located on
197	197	a single parcel of land with a single legal description;
198	198	(9) "commission" means the New Mexico real
199	199	estate commission;
200	200	(10) "customer" means a person who uses real
201	201	estate services without entering into an express written
202	202	agreement with a brokerage subject to the jurisdiction of the
203	203	commission;
204	204	(11) "foreign broker" means a real estate
205	205	broker who does not hold a real estate license issued by the
206	206	commission, but who holds a current and valid real estate
207	207	broker's license issued by another state in the United States,
208	208	a province of Canada or any other sovereign nation;
209	209	(12) "license" means a qualifying broker's
210	210	license or an associate broker's license issued by the
211	211	commission;
212	212	(13) "licensee" means a person holding a valid
213	213	qualifying broker's license or an associate broker's license
214	214	subject to the jurisdiction of the commission;
215	215	(14) "nonresident licensee" means an associate
216	216	or qualifying broker holding a real estate license issued by
217	217	the commission and whose license application address is not
218	218	within the state of New Mexico;
219	219	(15) "property management" means real estate
220	220	services as specified by a management agreement that include
221	221	.229296.1
222	222	- 4 - underscored material = new
223	223	[bracketed material] = delete
224	224	1
225	225	2
226	226	3
227	227	4
228	228	5
229	229	6
230	230	7
231	231	8
232	232	9
233	233	10
234	234	11
235	235	12
236	236	13
237	237	14
238	238	15
239	239	16
240	240	17
241	241	18
242	242	19
243	243	20
244	244	21
245	245	22
246	246	23
247	247	24
248	248	25
249	249	marketing, showing, renting and leasing of real property;
250	250	collection and disbursement of funds on behalf of the owner;
251	251	supervision of employees and vendors; coordination of
252	252	maintenance and repairs; management of tenant relations; and
253	253	preparation of leases or rental agreements, financial reports
254	254	and other documents. "Property management" does not mean
255	255	inspections of property, repairs and maintenance incidental to
256	256	the sale and marketing of property as authorized by the owner
257	257	or the management of a condominium or homeowner association or
258	258	advertising or taking reservations for vacation rental
259	259	properties;
260	260	(16) "qualifying broker" means a licensed real
261	261	estate broker who has qualified a proprietorship, corporation,
262	262	partnership or association to do business as a real estate
263	263	brokerage in the state of New Mexico, who discharges the
264	264	responsibilities specific to a qualifying broker as defined by
265	265	the commission and who for compensation or other consideration
266	266	from another:
267	267	(a) lists, sells or offers to sell real
268	268	estate; buys or offers to buy real estate; or negotiates the
269	269	purchase, sale or exchange of real estate or options on real
270	270	estate;
271	271	(b) is engaged in managing property for
272	272	others;
273	273	(c) leases, rents or auctions or offers
274	274	.229296.1
275	275	- 5 - underscored material = new
276	276	[bracketed material] = delete
277	277	1
278	278	2
279	279	3
280	280	4
281	281	5
282	282	6
283	283	7
284	284	8
285	285	9
286	286	10
287	287	11
288	288	12
289	289	13
290	290	14
291	291	15
292	292	16
293	293	17
294	294	18
295	295	19
296	296	20
297	297	21
298	298	22
299	299	23
300	300	24
301	301	25
302	302	to lease, rent or auction real estate;
303	303	(d) advertises or makes any
304	304	representation as being engaged in the business of buying,
305	305	selling, exchanging, renting, leasing, auctioning or dealing
306	306	with options on real estate for others as a whole or partial
307	307	vocation; or
308	308	(e) engages in the business of charging
309	309	an advance fee or contracting for collection of a fee in
310	310	connection with a contract under which the qualifying broker
311	311	undertakes primarily to promote the sale of real estate through
312	312	its listing in a publication issued primarily for that purpose
313	313	or for the purpose of referral of information concerning real
314	314	estate to other qualifying brokers or associate brokers;
315	315	(17) "real estate" means land, improvements,
316	316	leaseholds and other interests in real property that are less
317	317	than a fee simple ownership interest, whether tangible or
318	318	intangible; and
319	319	(18) "transaction broker" means a qualifying
320	320	broker, associate broker or brokerage that provides real estate
321	321	services without entering into an agency relationship.
322	322	B. A single act of a person in performing or
323	323	attempting to perform an activity described in Paragraph (16)
324	324	of Subsection A of this section makes the person a qualifying
325	325	broker. A single act of a person in performing or attempting
326	326	to perform an activity described in Paragraph (3) of Subsection
327	327	.229296.1
328	328	- 6 - underscored material = new
329	329	[bracketed material] = delete
330	330	1
331	331	2
332	332	3
333	333	4
334	334	5
335	335	6
336	336	7
337	337	8
338	338	9
339	339	10
340	340	11
341	341	12
342	342	13
343	343	14
344	344	15
345	345	16
346	346	17
347	347	18
348	348	19
349	349	20
350	350	21
351	351	22
352	352	23
353	353	24
354	354	25
355	355	A of this section makes the person an associate broker.
356	356	C. The provisions of Chapter 61, Article 29 NMSA
357	357	1978 do not apply to:
358	358	(1) a person who as owner performs any of the
359	359	activities included in this section with reference to property
360	360	owned by the person, except when the sale or offering for sale
361	361	of the property constitutes a subdivision containing one
362	362	hundred or more parcels;
363	363	(2) the employees of the owner or the
364	364	employees of a qualifying broker acting on behalf of the owner,
365	365	with respect to the property owned, if the acts are performed
366	366	in the regular course of or incident to the management of the
367	367	property and the investments;
368	368	(3) isolated or sporadic transactions not
369	369	exceeding two transactions annually in which a person acts as
370	370	attorney-in-fact under a duly executed power of attorney
371	371	delivered by an owner authorizing the person to finally
372	372	consummate and to perform under any contract the sale, leasing
373	373	or exchange of real estate on behalf of the owner; and the
374	374	owner or attorney-in-fact has not used a power of attorney for
375	375	the purpose of evading the provisions of Chapter 61, Article 29
376	376	NMSA 1978;
377	377	(4) transactions in which a person acts as
378	378	attorney-in-fact under a duly executed power of attorney
379	379	delivered by an owner related to the attorney-in-fact within
380	380	.229296.1
381	381	- 7 - underscored material = new
382	382	[bracketed material] = delete
383	383	1
384	384	2
385	385	3
386	386	4
387	387	5
388	388	6
389	389	7
390	390	8
391	391	9
392	392	10
393	393	11
394	394	12
395	395	13
396	396	14
397	397	15
398	398	16
399	399	17
400	400	18
401	401	19
402	402	20
403	403	21
404	404	22
405	405	23
406	406	24
407	407	25
408	408	the fourth degree of consanguinity or closer, authorizing the
409	409	person to finally consummate and to perform under any contract
410	410	for the sale, leasing or exchange of real estate on behalf of
411	411	the owner;
412	412	(5) the services rendered by an attorney at
413	413	law in the performance of the attorney's duties as an attorney
414	414	at law;
415	415	(6) the services rendered in the performance
416	416	of property management by an attorney at law;
417	417	(7) the services rendered in the performance
418	418	of property management by a contractor licensed pursuant to the
419	419	Construction Industries Licensing Act;
420	420	[(6)] (8) a person acting in the capacity of a
421	421	receiver, trustee in bankruptcy, administrator or executor, a
422	422	person selling real estate pursuant to an order of any court or
423	423	a trustee acting under a trust agreement, deed of trust or will
424	424	or the regular salaried employee of a trustee;
425	425	[(7)] (9) the activities of a salaried
426	426	employee of a governmental agency acting within the scope of
427	427	employment;
428	428	[(8)] (10) persons who deal exclusively in
429	429	mineral leases or the sale or purchase of mineral rights or
430	430	royalties in any case in which the fee to the land or the
431	431	surface rights are in no way involved in the transaction; or
432	432	[(9)] (11) an auctioneer; provided that
433	433	.229296.1
434	434	- 8 - underscored material = new
435	435	[bracketed material] = delete
436	436	1
437	437	2
438	438	3
439	439	4
440	440	5
441	441	6
442	442	7
443	443	8
444	444	9
445	445	10
446	446	11
447	447	12
448	448	13
449	449	14
450	450	15
451	451	16
452	452	17
453	453	18
454	454	19
455	455	20
456	456	21
457	457	22
458	458	23
459	459	24
460	460	25
461	461	payments to an auctioneer for services rendered in connection
462	462	with an auction shall be made to the auctioneer by a qualifying
463	463	broker, and prior to performing an auction of real estate, the
464	464	auctioneer shall enter into a transaction-specific written
465	465	agreement with a qualifying broker that includes:
466	466	(a) a description of the parties, the
467	467	real estate and any additional information necessary to
468	468	identify the specific transaction governed by the agreement;
469	469	(b) the terms of compensation between
470	470	the auctioneer and the qualifying broker;
471	471	(c) the effective date and definitive
472	472	termination date of the agreement; and
473	473	(d) a statement that the auctioneer
474	474	agrees to: 1) cooperate fully with the qualifying broker and
475	475	all associate brokers designated by the qualifying broker; 2)
476	476	conduct all contact with parties, including the general public
477	477	and other brokers, in association with the qualifying broker or
478	478	associate brokers designated by the qualifying broker; and 3)
479	479	conduct all marketing and solicitations for business in the
480	480	name of the qualifying broker."
481	481	- 9 -
482	482	.229296.1